Mortgage Free by 40? 8 years to go

newgirly

Hi argomatt, I've just caught up with your new diary and wanted to wish you good luck with it all

argomatt

Hi Newgirly,
Thanks for dropping in and reading through my ramblings :j:jYour diary is also one I have been lurking at, you have been inspirational too :beer:

A bit of an interesting question arrived today in the post..

I will be receiving a bonus from my work of just over £1800 in my pay this month, which I am really pleased about because it will be a big mortgage overpayment.

But, I have reached my overpayment limit for this year, and can't do any more till August. I don't really want to put the money into my ISA to take it out in August, in case I will get to the position of filling up my ISA this tax year.

I don't have any other savings accounts at the moment, so I am on the hunt for somewhere to put the cash for a few months until I am able to pay it onto the mortgage.

I do have a Zopa lending account but as the rates have dropped off lately, it doesn't seem like a good short term option, especially as I think I would loose an extra 1% by rapid returning?

If anyone has any ideas what the best thing to do is, then I would be glad of them!

Matt
:beer:

mark55man

That sort of sum and that sort of time I would buy some Premium bonds. Any longer and you would be better in savings account or investing depending on how much longer

argomatt

Thanks mark88man
I hadn't thought about premium bonds but I will definitely get a leaflet next time I'm in the post office.
:beer:

mark55man

right time of the month as well - if you do it next week you should be in for the May draw

who knows you might be able to pay off the whole house :-)

argomatt

Not much MFW news but 2.5 pounds down at fat club tonight. :j :j

I was a bit disappointed not to get my first certificate but it's a goal for next time although I can't go for a couple of weeks because of work.

Will try to have as many NSDs as possible at work this time, hopefully get through the month without going into my overdraft at all, now that RB$ have moved the goal posts, I no longer get the £250 buffer zone, and start getting charged even if I go slightly over :eek:

Matt
:beer:

argomatt

Hi everyone,

I haven't posted for a while, and I haven't had a chance to read through diarys for a long time either, so I have been having a catch up this afternoon

I have been really busy with work, so haven't been able to do much MFW related activity, apart from not having time to spend much money!

I did get my mobile phone upgrade sorted out though, I threatened to leave and got a PAC code from them, then found some better deals online and when the "manager" called back asking why I was leaving, I had a target in mind to get them down to. It's backfired a bit though because the phone they sent me seems to be a foreign model, and not set up for their own network. The pre-installed apps are for German news sites etc. and I think they've also sold me an insurance policy I don't need or want or agree to. So I am a bit annoyed about that because they haven't sent me a policy number, or even how much it will cost each month, and without a policy number I am unable to cancel it.

Got my first certificate from fat club last week though, which I was really pleased, got to keep pushing for the next one now :cool:

I hope everyone's having a good weekend.

:beer::beer:

argomatt

Hi :j

Having a good week this week:

1. Saved some money doing a big shop in the newly opened C0stc0 nearby. Trying to justify my £30 membership fee, though I am sure I will more than recoup that over the course of the year.

2. Lost 1.5 pounds at fat club this week

3. Changes made to the way ZOPA works have meant I am not getting anywhere near as much interest on the money I have invested there, I will have to find somewhere better to move the money to.

4. I put all the 2012/13 payments I have made on the student loan repayment website to check my balance, according to that it looks like I could clear my loan within 2 years and might be eligible to switch to direct debit repayments. :j:j

:beer::beer:

argomatt

Hello everyone,

I haven't posted on here for a while but just wanted to check in and update my signature.

Things have been a bit chaotic here lately because becoming mortgage free has taken a back seat to wanting to move house. GF and I have been looking at houses but haven't found the one yet, but the money earmarked for OPs has been diverted to building up a "moving fund"

I am a bit aprehensive about funding the new house on my own but I think it will probably be okay I hope.
:eek::eek:

Hope everyone is doing well
:beer:

argomatt

Just a quick drop in to catch up on some diaries and to update my signature now the end of month payments and transfers have gone through.
House hunting isn't going too well at the moment, saw two good ones but neither of them were in a position to sell yet. But still keeping looking and each month that goes by means there will be a little bit more money in the pot earmarked for the costs and fees involved!